Texas A&M former students are playing key roles at TXSE, the first fully integrated national exchange to win SEC approval in decades.
July 30, 2026
By Luana Pangaio
6 min. read
Mays Business School former students and Texas Stock Exchange employees Peyton Migaud ’19 ’20, Christian Buman ’25, and Connor Watson ’21 ’22
Historically, companies looking to go public in the United States had two choices: the New York Stock Exchange or NASDAQ. The Texas Stock Exchange changes that. The first fully integrated national securities exchange to receive approval from the U.S. Securities and Exchange Commission in decades, the Dallas-based exchange began live trading in July 2026, with exchange-traded product listings and corporate listings, and eventually IPOs to follow.
Peyton Migaud ’19 ’20 and Connor Watson ’21 ’22 both completed the Master of Science in Finance (MSF) program, complementing their bachelor’s degrees in applied mathematics and industrial and systems engineering, respectively. Financial Times recently ranked Mays’ MSF as the No. 2 public program of its kind in the country. The accelerated track allows students to begin earning their master’s in finance concurrently with their undergraduate degree, adding just one additional year to their degree plan.
Migaud now serves as TXSE’s chief of staff and director of corporate strategy, Watson as vice president of trading strategy and execution, and Buman as a listings strategy and execution analyst. Together, they’ve had a front-row seat to the exchange’s journey from an idea sketched on a whiteboard to a fully operational marketplace poised to reshape U.S. capital markets.
The three Aggies reflect on TXSE’s launch, the lessons they carried from Mays, and what’s next for the exchange.
What has it been like to help bring the Texas Stock Exchange (TXSE) from concept to reality?
Peyton Migaud ’19 ’20: “It’s really been an incredible opportunity and a once-in-a-career experience. There aren’t very many people that get the chance to build a national securities exchange from the ground up, alongside world-class experts. It’s exciting to be a part of something that has the potential to reshape U.S. capital markets.”
Give us an overview of TXSE and its impact for someone who may not be aware.
PM: “TXSE is the first fully integrated exchange to receive SEC approval in decades. Historically, if a company wanted to go public in the U.S., they had one of two choices: the New York Stock Exchange and NASDAQ. We are now the third option.”
Can you describe your roles at TXSE?
Connor Watson ’25:“I’m currently the vice president of trading strategy and execution. I help our leadership solve strategic and operational problems and make decisions. Both big and small, long-term and near-term planning — I help TXSE make decisions. I sit at the intersection of finance, operations, accounting, and technology.”
PM: “I’m chief of staff and director of corporate strategy. I work closely with our CEO and leadership to turn priorities into action and keep important projects moving forward. I’ve been deeply involved in each of our financing rounds and lead engagement with our shareholders, board, and advisory council. My day-to-day, even hour-to-hour, often widely varies.”
Christian Buman ’25:“I’m a listings strategy and execution analyst. I do a lot of the material preparation and data work for corporate transfers as well as IPOs (Initial Public Offerings), so doing research on their trading metrics and comparable company trading metrics, and we just put together the materials we present to those companies.”
How did your experience at Mays Business School prepare you for this role?
CW: “I would not be here without Mays or the MSF program. The career path I ended up choosing, the relationships that I made there, and the opportunities that fell out — all can be credited to Mays. I would do it all over again if I had the option.”
PM: “I had professors at Mays who pushed me out of my comfort zone and challenged me to take on opportunities that I might not have pursued on my own. They helped me realize I was capable of a lot more than I had given myself credit for and helped instill a level of confidence in me that has helped me get to where I am.”
What has been the most rewarding part of seeing TXSE officially open?
PM: “Seeing everything we’ve been working on come to life. Connor and I met our CEO, James Lee, over three years ago when TXSE was an idea on a handful of pieces of paper. We’ve helped translated the idea into big drawings on a whiteboard to now a fully operational exchange. It’s incredibly rewarding to have worked with TXSE from inception all the way through operational launch.”
CB: “It has made the materials we’re preparing and presenting to prospective listed companies more meaningful. We’re no longer pitching the idea of a stock exchange or something that hadn’t proven itself. Now we’re pitching something that we continue to prove is working.”
What has been the most impactful lesson you’ve learned throughout this whole experience?
CB: “Being flexible. I’m on the listings team, but I often work on things that wouldn’t really fall under my job title — a lot of times I’m asked to do things I’ve never done before. It’s about figuring it out and helping where you’re needed.”
What advice would you give Mays students who want to work in finance or capital markets?
CW: “Stay patient, earn the trust of the folks around you, and stay the course. When you’re first starting your career, particularly in finance or capital markets, it can be intense and the entry level roles are notoriously difficult. It can sometimes feel like that is how it’s going to be forever. But you’ll look up in two or three years and be in a great position.”
What’s next for TXSE, and what are you most excited about moving forward?
PM: “We recently launched trading — that was our first major milestone. In the next few months, we’ll be launching both exchange traded products and corporate listings. We’ve been having conversations with prospective issuers for, honestly, years now, so it’s going to be exciting for everyone to see what we’ve been working on and the impact that this will make on capital markets.”
